Argo Gold Inc. (CNSX : ARQ) entered into an agreement to acquire 18,000 contiguous acres in the Clearwater Play around the Nipisi area of Alberta from Tamarack Valley Energy Ltd. (TSX : TVE) for CAD 0.73 million on November 7, 2022. The transaction is subject to normal closing conditions and customary due diligence. The transaction is expected to close by January 31, 2023. Transaction financed by a private placement offering of up to 25,000,000 shares at a price of CAD0.10 per share, for gross proceeds of up to CAD2,500,000.

Argo Gold Inc. (CNSX : ARQ) cancelled the acquisition of 18,000 contiguous acres in the Clearwater Play around the Nipisi area of Alberta from Tamarack Valley Energy Ltd. (TSX : TVE) for CAD 0.73 million on February 1, 2023. The company is going to focus on near-term oil production opportunities and not acquire the long lead-time Clearwater acreage and will not close the purchase and sale agreement to acquire 7,600 contiguous hectares of Clearwater oil land in the Nipisi area of Alberta for CAD 0.725 million.